American Bitcoin returns to profit as power costs weigh on margins

American Bitcoin reported $126 million in net income for the third quarter, according to The Cryptonomist, BeInCrypto and The Block. The company, which BeInCrypto identifies as co-founded by Eric Trump, released its results after the U.S. market closed on November 4. The Block reported that the profit represented a sharp reversal from a $57.2 million net loss in the preceding quarter, while The Cryptonomist separately noted that the miner did not issue shares through its at-the-market program during the period. Bitcoin appreciation played a central role in the turnaround. BeInCrypto reported that a $197.3 million Bitcoin gain powered the quarterly profit and that American Bitcoin’s operations would have posted a small loss without that gain. The company also ended the period with more Bitcoin in reserve, while Satoshis Per Share rose by roughly 5%, according to The Cryptonomist. That combination links the reported improvement in per-share Bitcoin exposure with the miner’s results. The coverage agrees on the $126 million headline figure and describes a return to profitability, with no conflicting earnings amounts among the three outlets carrying the company’s results. Their emphasis differs: BeInCrypto focuses on the contribution from Bitcoin gains and the underlying operating loss, The Block highlights the scale of the quarter-to-quarter swing, and The Cryptonomist places greater weight on reserves, Satoshis Per Share and operating expenses. Cointelegraph takes a broader market angle, reporting that Fidelity led Bitcoin ETF inflows while BlackRock’s IBIT recorded a further $201 million outflow, extending its outflow streak to four trading sessions. Higher seasonal electricity costs remained the principal operating headwind cited by The Cryptonomist, squeezing mining margins despite the favorable Bitcoin contribution. The company’s increased reserve and Satoshis Per Share therefore came alongside a mixed cost picture rather than an unqualified improvement across every part of the operation. The verified network backdrop showed Bitcoin hashrate at 1,030 EH/s and difficulty at 148.4T, according to mempool.space, providing context for the competitive mining environment in which those margins were determined. Live market data showed Bitcoin at $80,354, up 2.62% over 24 hours and 0.82% over seven days, with a $1.62 trillion market capitalization. The total crypto market capitalization stood at $2.76 trillion and the broader market was broadly higher. The Fear & Greed Index was 50, classified as Neutral, so the positive Bitcoin move occurred without the sentiment indicator reaching either extreme. The result puts American Bitcoin’s revenue exposure to Bitcoin alongside its sensitivity to power expenses, while its larger reserve increases the amount of network-linked value represented per share. The next reported figures that will matter are whether the $197.3 million gain remains the main driver of profitability and whether seasonal costs continue to offset gains elsewhere in the business. Share-market context was also weaker before the release: BeInCrypto reported that American Bitcoin’s stock had already fallen 5.6% from the prior close before the earnings publication.